BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Inchcape plc (INCH.L) announced the acquisition of Ditec, the distributor of Porsche, Volvo and Jaguar Land Rover in Chile. Inchcape has acquired a 70% stake in Ditec, with the remainder being retained by Sebastián de Cárcer, the son of the founder. The Group noted that Ditec will add approximately 130 million pounds of annualised revenue to the Americas & Africa region.
Duncan Tait, Group CEO, said: 'We are pleased to announce another distribution acquisition in the Americas, expanding our growing footprint in the region and adding Porsche and Volvo, two leading premium brands to our list of OEM partners.'
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